Street Fighter X Tekken will feature 2D gameplay, and will be developed by Capcom, while Tekken X Street Fighter, which may or may not be in 2D, will be handled by Tekken developers. Both titles will be coming to PlayStation 3 and Xbox 360. Here's the official breakdown:

Street Fighter X Tekken will feature a similiar presentation style as that of Street Fighter IV, and in addition to Versus and Training modes, the game will feature Tag Team combat where "players select two fighters to deliver knockout assist attacks and special combos."

Capcom and Namco started discussing the game over a year ago, so it’s still in the early stages of development, and won’t be out “for a while.” During their Comic-Con panel, Capcom suggested that in the meantime, fans should “enjoy Marvel vs. Capcom 3 while you wait.” And to see Ryu and Kazuya Mishima battling it out all you have to do is click here.